Hands typing on a laptop keyboard with floating symbols of various world currencies (dollar, euro, pound, yen, bitcoin).
FUNDS DATABASE

Comprehensive List to Investment Funds in Portugal

Portugal Golden Visa Funds: Navigating the Rapidly Evolving Landscape

Portugal continues to attract investors through its collective investment vehicles, particularly for Golden Visa applicants seeking residency through financial investments. After the 2023 regulatory changes eliminated the real estate option, the fund sector has seen unprecedented growth—creating both opportunities and challenges for investors.

Understanding the New Asset Management Regime

The regulatory framework was recently updated with the new Asset Management Regime (Regime de Gestão de Ativos - RGA), approved by Decree-Law No. 27/2023, creating a unified framework for collective investment vehicles.

While there are now hundreds of funds in Portugal, not all funds are eligible for Portugal Golden Visa investments.

As a recap, remember that to qualify for a Portugal Golden Visa via investment funds, the fund must meet three key requirements:

  • 60% Investment in Portuguese Companies – At least 60% of the fund's capital must be invested in commercial companies based in Portugal​. This ensures the fund is contributing to the local economy.
  • Minimum 5-Year Holding Period – The fund must have a minimum maturity of five years​. Golden Visa investors are required to maintain an uninterrupted investment for at least five years, aligning with the residency requirement.
  • No Real Estate Investments – Qualifying funds cannot invest in real estate. Instead, funds focus on businesses – whether through equity or debt – to meet the program criteria.

The Explosive Growth: By the Numbers

The charts below demonstrate the dramatic surge in both fund managers and Portugal Golden Visa funds:

This unprecedented growth correlates directly with the program modifications that shifted focus from real estate toward investment funds—but has also opened the door to questionable practices and higher investor risk.

Distribution of Fund Managers by Registration Year

 

Distribution of Funds by Start Year

 

Navigating the Risk Landscape: The Critical Importance of Due Diligence

With 31 new fund managers entering the market since 2023, investors face significant challenges in evaluating credibility. Rigorous due diligence is essential when considering funds managed by recently established entities with:

  • No established track record of fund performance
  • Limited operational history in Portuguese markets
  • Unproven investment strategies in the current economic climate

Important Distinction: Not all new fund managers carry equal risk. Some recently established entities are led by industry veterans with impressive track records from previous funds or financial institutions. Distinguishing between truly inexperienced managers and seasoned professionals operating under new entities requires expert analysis and local market knowledge.

Other risk factors include:

  • Misleading "guaranteed" buyback schemes
  • Hidden real estate investments despite regulatory restrictions
  • Conflicted third-party advisors with undisclosed incentives

Learn more about these risks and how to avoid them in this article.

Types of Portuguese Investment Funds and Private Equity Firms

Following the RGA implementation, Portugal's investment landscape features:

  • SGOIC (Sociedades Gestoras de Organismos de Investimento Coletivo): Management companies handling both UCITS and Alternative Investment Funds (AIF)
  • SCR (Sociedades de Capital de Risco): Alternative Investment Fund management firms

These entities manage various investment vehicles including:

  • UCITS - Undertakings for Collective Investment in Transferable Securities (OICVM in Portuguese): These are traditional mutual funds focused on public markets, typically investing in equities (stocks) or corporate bonds. They are designed for retail investors.
  • AIF - Alternative Investment Funds (OIA in Portuguese): Alternative Investment Funds, including:
    • Real Estate AIFs (OIA Imobiliários)
    • Venture Capital/Private Equity AIFs (OIA de Capital de Risco)
    • Credit AIFs (OIA de Créditos)
    • General category AIFs with diverse investment portfolios

To learn more about how funds work, consult The Ultimate Guide to Portugal Golden Visa Funds.

Selecting the Right Portugal Golden Visa Fund

While the list below includes all investment funds managed by authorized fund managers in Portugal, it's important to note that not all of these are eligible for the Portugal Golden Visa program. Only a subset meets the legal criteria required for Golden Visa qualification.

Crucially, there is no official government label or registry that marks a fund as "Golden Visa eligible." Eligibility depends on whether a fund complies with three key legal requirements under the program [link]. That means determining which funds qualify—and which are worth considering—requires careful analysis.

Some funds may technically meet the requirements but operate in regulatory gray zones, or carry higher risks due to lack of transparency or weak governance, as discussed earlier in this article.

This is where we come in. As independent advisors based in Portugal, we specialize exclusively in the Portugal Golden Visa program. We offer unbiased guidance and educational information about the available funds, and help investors navigate the complex and evolving fund landscape.

We know the players. We know the market. And we're here to help you identify not just eligible funds—but credible, high-quality opportunities that align with your immigration investment goals.

After an initial consultation, we provide access to our curated funds database, which includes a vetted list of Golden Visa-eligible funds, detailed fund profiles, key documents, and comparison tools to help you assess your options based on strategy, risk, performance, and compliance.

If you're looking for clarity, safety, and alignment with your investment goals, reach out to us. We'll guide you through the noise and toward the right opportunities—securely and independently.

For personalized support in selecting the right Golden Visa investment, feel free to reach out.

Complete List of Authorized Portuguese Investment Entities & Funds

Explore the complete roster of all Portuguese investment entities and funds below to discover this dynamic market landscape.

Note: This list covers every entity and fund authorized to operate in Portugal — not just those that qualify for the Golden Visa program. If you'd like to see our curated selection of Golden Visa–eligible funds, you can access that list in our proprietary database after your initial consultation.

FundsEntity NameHeadquartersFiscal NumberShareholder's EquityRegistration DateTypeNumber of Funds
Above Capital - SCR, S.A.LISBOA516777734€125 00014/07/2022SCR9
ActiveCap - Capital Partners SCR, S.A.LISBOA514948884€175 00009/07/2019SCR7
Admar, SCR, S.A.ESTORIL515682420€125 00013/08/2020SCR4
Alea Capital Partners, SCR, S.A.LISBOA516443046€125 00002/12/2021SCR4
Alpac Capital - Sociedade de Capital de Risco, S.A.OEIRAS513891072€125 00024/11/2016SCR4
Altos Equity Partners SCR S.A.LISBOA517316331€125 00010/08/2023SCR1
Aqua Partners Asset Management - SCR, S.A.LISBOA517302152€200 00010/08/2023SCR2
Armilar Venture Partners - SCR S.A.LISBOA507527909€750 00011/05/2006SCR22
Atena Equity Partners - Sociedade de Capital de Risco, S.A.LISBOA513046488€125 00011/07/2014SCR5
Atlantic - SGOIC, S.A.PORTO50733416701/06/2006SGOIC - Large22
Atlantic Premium Capital Partners - SCR, S.A.PAÇO DE ARCOS515544361€125 00016/01/2020SCR5
August One Capital, SCR, S.A.SÃO ROQUE DO PICO517760908€125 00026/01/2024SCR1
Bem Comum - Sociedade de Capital de Risco, S.A.LISBOA509279228€250 00010/02/2011SCR1
Beta - Sociedade de Capital de Risco, S.A.PORTO506700100€1 651 91514/01/2004SCR8
Biovance Capital Partners, Sociedade de Capital de Risco, S.A.LISBOA517225948€125 00023/02/2024SCR1
Biven Capital Partners - SCR S.A.BRAGA517387964€125 00009/02/2024SCR1
BIZ Capital - SGOIC, S.A.LISBOA509753540€250 00026/10/2011SCR9
Blue Catching - Sociedade de Capital de Risco, S.A.LISBOA510857310€125 00024/07/2014SCR1
Blue Marlin Asset Management - SCR, S.A.PORTO516442929€125 00018/11/2021SCR3
Bluecrow - Sociedade de Capital de Risco, S.A.LISBOA514046031€150 00016/08/2016SCR42
Bondstone Investment Management, SGOIC, S.A.LISBOA51781351326/12/2023SGOIC - Large2
BPI Gestão de Ativos - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.LISBOA50244302229/07/1991SGOIC - Large83
Bright Ventures Capital, SCR, S.A.MAIA514058129€8 125 00016/12/2016SCR2
Buenavista Equity Partners Portugal, SCR, S.A.LISBOA516343149€125 00009/07/2021SCR2
Bynd Venture Capital, SCR, S.A.LISBOA513526870€475 00023/07/2015SCR4
Caixa Capital - Sociedade de Capital de Risco, S.A.LISBOA502525380€4 500 00007/08/2003SCR10
Caixa Gestão de Ativos, SGOIC, S.A.LISBOA50245456329/07/1991SGOIC - OICVM155
Carregosa - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.PORTO51596305429/10/2020SGOIC - Large13
Casa de Investimentos - Gestão de Patrimónios e Fundos de Investimento - SGOIC, S.A.BRAGA50912670701/07/2010SGOIC - OICVM1
Cedrus Atlantica - Sociedade de Capital de Risco, S.A.LISBOA516148834€125 00022/10/2020SCR15
Celtis Venture Partners - Sociedade de Capital de Risco, S.A.LISBOA513494537€125 00019/06/2015SCR4
Circle Capital - SGOIC, S.A.LISBOA51621249401/03/2023SGOIC - Small1
Civilria Gestão de Ativos , SGOIC, S.A.AVEIRO51644509015/12/2022SGOIC - Large9
Core Capital - Sociedade de Capital de Risco, S.A.LISBOA514230983€200 00022/02/2018SCR3
CP Investments, SCR, SALISBOA518460444€75 00002/12/2024SCR7
Crédito Agrícola Gest - SGOIC, S.A.LISBOA50212469529/07/1991SGOIC - OICVM28
Crest Capital Partners - Sociedade de Capital de Risco, S.A.LISBOA514508418€125 00019/10/2017SCR4
Critical Ventures - Sociedade de Capital de Risco, S.A.COIMBRA508973341€350 00030/07/2009SCR2
C2 Capital Partners - SGOIC, S.A.LISBOA509103510€1 000 00011/11/2009SCR18
Draycott - SCR, S.A.LISBOA515280780€130 00022/08/2019SCR6
Eaglestone Capital Partners Sociedade Capital de Risco, S.A.LISBOA516232886€125 00009/02/2023SCR5
ECS - Sociedade de Capital de Risco, S.A.LISBOA507959949€750 00007/02/2007SCR7
EDP Ventures- Sociedade de Capital de Risco, S.A.LISBOA514051850€125 00012/01/2017SCR1
Erigo - Sociedade de Capital de Risco, S.A.LISBOA510074197€250 00024/05/2012SCR3
Explorer Investments - Sociedade de Capital de Risco, S.A.LISBOA506454584€750 00026/06/2003SCR12
Faber Capital, SCR, S.A.LISBOA515387819€125 00023/07/2019SCR3
FGIPT Capital - SCR, S.A.LISBOA518344991€200 00016/12/2024SCR1
Fidelidade - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.LISBOA51475789207/06/2018SGOIC - Large3
Finprop Capital - SGOIC, S.A.PORTO51654666001/04/2023SGOIC - Large2
Fomento - Fundos de Investimento Imobiliário, SGOIC, S.A.LISBOA50351166805/01/1996SGOIC - Small6
Fortitude Capital - Sociedade de Capital de Risco, S.A.LISBOA516503197€125 00022/12/2021SCR2
FSOIC Partners, SGOIC, S.A.LISBOA51626781729/12/2020SGOIC - Small1
Fund Box - Sociedade de Capital de Risco, S.A.LISBOA506516415€350 00003/07/2003SCR37
Fund Box - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.LISBOA50987595527/07/2012SGOIC - OICVM15
Fundiestamo - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.LISBOA50509150028/09/2006SGOIC - Small25
GEF - SGOIC, S.A.LISBOA50231898805/01/1996SGOIC - Large22
Gesfimo - Espírito Santo Irmãos, SGOIC, S.A.LISBOA50223600005/01/1996SGOIC - Small17
GFM Gestão de Ativos - SGOIC, S.A.BRAGA51623369629/12/2020SGOIC - Small3
GK Capital, Sociedade de Capital de Risco, S.A.SINTRA517304945€125 00025/05/2023SCR1
GNB - GESTÃO DE ATIVOS, SOCIEDADE GESTORA DE ORGANISMOS DE INVESTIMENTO COLETIVO, S.A.PORTO SALVO50188261829/07/1991SGOIC - OICVM114
Golden Monarque, SCR, S.A.LISBOA513836985€125 00009/02/2017SCR5
Grande Enseada Capital Partners, Sociedade de Capital de Risco, S.A.ESTORIL513523910€187 00006/08/2015SCR1
Green One Capital SCR, S. A.LISBOA513885455€175 00006/12/2016SCR15
Growth Partners Capital - Sociedade de Capital de Risco, S.A.CASCAIS513793186€125 00007/07/2016SCR4
Haitong Global Asset Management, SGOIC S.A.LISBOA502040246€25 000 00017/07/2003SCR8
HCapital Partners, SCR, S.A.LISBOA510674852€125 00019/01/2017SCR3
Heed Capital SGOIC, S.A.LISBOA50629262206/10/2003SGOIC - OICVM15
Iberis Semper - Sociedade de Capital de Risco, S.A.LISBOA514602635€125 00008/02/2018SCR14
IM Gestão de Ativos - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.LISBOA50215188929/07/1991SGOIC - OICVM139
Imofundos - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.ALGÉS50480185622/12/1999SGOIC - Small9
Imopólis - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.CARNAXIDE50307518305/01/1996SGOIC - Large5
Imorendimento - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.PORTO50282484005/01/1996SGOIC - Large13
Índico Capital Partners - Sociedade de Capital de Risco, S.A.LISBOA514486449€125 00024/08/2017SCR7
INQBT Capital, SCR, S.A.LISBOA516368222€125 00025/11/2021SCR2
Insight Venture - Sociedade de Capital de Risco, S.A.LISBOA516132911€166 66629/04/2021SCR11
Insula Capital - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.LISBOA50185845805/01/1996SGOIC - Large25
Inter Risco - Sociedade de Capital de Risco, S.A.PORTO509432867€400 00001/09/2010SCR7
Interfundos - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.PORTO SALVO50755288119/04/2007SGOIC - Large50
Invest Gestão de Activos - Sociedade Gestora de Organismos de Investimento Colectivo, S.A.LISBOA50409502126/11/1998SGOIC - OICVM15
ISQ - Sociedade de Capital de Risco, S.A.LISBOA506279472€250 00028/08/2003SCR10
Lagasca Asset Management - SGOIC, S.A.LISBOA51796665401/04/2024SGOIC - Small2
Lean Company Ventures, SCR, S.A.LISBOA513325611€125 00029/06/2017SCR22
Libertas - SGOIC, S.A.LISBOA50853679029/10/2009SGOIC - Large6
Lince Capital, SCR, S.A.LISBOA513500707€125 00014/07/2016SCR25
LYNX Asset Managers - SGOIC, S.A.LISBOA50792993417/09/2008SGOIC - OICVM174
Magnify Capital Partners - Sociedade de Capital de Risco, S.A.LISBOA515510190€287 43727/12/2019SCR29
Menlo Capital - Sociedade de Capital de Risco, S.A.ESTORIL510435548€250 00020/03/2013SCR4
Montefino Capital SGOIC, S.A.PORTO51833091501/11/2024SGOIC - Small2
Montepio Gestão de Activos - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.LISBOA50260872206/02/1992SGOIC - OICVM34
Mustard Seed Maze - Sociedade de Capital de Risco, S.A.LISBOA515128503€125 00002/11/2018SCR1
Nativa Capital - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.LISBOA50788176118/10/2007SGOIC - Small4
Nevada Investments SGOIC S.A.LISBOA51676752617/04/2024SGOIC - Small1
NEXA SGOIC, S.A.BRAGA51800324806/09/2024SGOIC - Small2
Norfin - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.LISBOA50096331230/09/1999SGOIC - Large26
Novabase Capital - Sociedade de Capital de Risco, S.A.LISBOA503086843€2 500 00028/04/2004SCR3
N2AM SGOIC, S.A.LISBOA51825822024/09/2024SGOIC - Small2
Octanova, SCR, S.ALISBOA516146130€125 00031/03/2021SCR4
Onetier Partners, SCR, S.A.LISBOA506744981€750 00018/06/2004SCR3
Onon Partners - SCR, S.A.SINTRA514107669€130 00029/12/2020SCR1
Optimize Investment Partners - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.LISBOA50818132103/09/2008SGOIC - OICVM16
OW Ventures SCR, S.A.LISBOA517980088€12527/03/2024SCR2
Oxy Capital - SGOIC, S.A.LISBOA510064760€750 00031/05/2012SCR28
Peds Capital SCR - S.A.LISBOA516796003€125 00031/03/2023SCR2
Phyxius, SCR, S.A.PORTO513983953€125 00025/05/2017SCR1
PICF, SGOIC, S.A.LISBOA51736031403/04/2023SGOIC - Large4
Plural Markets Gestão de Ativos - Sociedade de Capital de Risco, SALISBOA517869675€700 00027/03/2024SCR1
Point Capital Partners - SCR, S.A.LISBOA516388568€300 00018/11/2021SCR8
Portugal Capital Ventures - Sociedade de Capital de Risco,S.A.PORTO502206128€40 412 65017/07/2003SCR32
Predipalma - SIC Imobiliária Fechada, S.A.MAIA50470556301/06/2023SIC - Small1
Profile - Sociedade Gestora de Organismos de Investimento Colectivo, S.A.ALGÉS50260304607/11/1991SGOIC - Small47
P32 Capital, SGOIC, S.A.SENHORA DA HORA51818033601/08/2024SGOIC - Small4
Quadrantis Capital - Sociedade de Capital de Risco, S.A.LISBOA513328467€125 00003/12/2015SCR21
Refundos - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.LISBOA50291329005/01/1996SGOIC - Large14
Rimon Investments - SGOIC, S.A.LISBOA51689826401/08/2022SGOIC - Small3
Rockmark Asset Management, SGOIC, S.A.LISBOA51779837929/01/2024SGOIC - Small2
Santander Asset Management - SGOIC, S.A.LISBOA50233059729/07/1991SGOIC - OICVM141
Sierra IG, SGOIC,S.A.MAIA51661434722/09/2021SGOIC - Large11
SILAR - Sociedade de Investimento Coletivo Fechado do Tipo Alternativo Imobiliário, SALISBOA51509579623/11/2018SIC - Small1
Silvip - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.LISBOA50187042305/01/1996SGOIC - Large6
Sixty Degrees - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.LISBOA51537350807/08/2019SGOIC - OICVM9
Southcap- SGOIC, S.A.LISBOA51698386501/09/2022SGOIC - Large4
SPX Portugal, SGOIC, S.A.CASCAIS51664276601/04/2024SGOIC - Large1
Square Asset Management - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.LISBOA50238881105/01/1996SGOIC - Large13
Stag Fund Management SCR, S.A.LISBOA515754447€200 00013/08/2020SCR18
Statusdesafio Capital - Sociedade Gestora de Organismos de Investimento Coletivo, S.A.LISBOA51429559719/07/2018SGOIC - Large15
The Lakhani Group Capital SCR, S.A.OEIRAS516326880€125 00018/08/2021SCR3
Today For Tomorrow - SGOIC, S.A.LISBOA51771624024/01/2024SGOIC - Large1
Touro Capital Partners - SCR, S.A.LISBOA516058258€125 00025/03/2021SCR4
Valadim Investimentos - SIC Imobiliária Fechada, SAPÓVOA DE VARZIM50428685401/04/2022SIC - Small1
Vallis Capital Partners - SCR, S.A.PORTO510089453€2 250 00030/08/2012SCR1
Ventures.EU - SCR, S.A.LISBOA517821672€125 00019/12/2023SCR1
Vibecap - SCR, S.A.LISBOA517549301€125 00024/08/2023SCR2
Vila Galé Gest - SGOIC, S.A.PAÇO ARCOS50306578105/01/1996SGOIC - Small1
VIOLAS FERREIRA - SIC Imobiliária Fechada, S.A.PORTO50052942611/02/2019SIC - Small1
YUNIT Capital Partners, SCR, S.A.LISBOA517644541€75 00028/11/2023SCR1
2BPartner - Sociedade de Capital de Risco, S.A.BRAGA508350042€750 00004/07/2008SCR1
3 Comma Capital SCR - S.A.LISBOA516965476€125 00011/11/2022SCR5
3XP Global - SCR, S.A.LISBOA515075590€185 00027/11/2019SCR7